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Financial Instruments - Fair Value of Contingent Consideration Liability (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 | Aug. 01, 2022
--- | --- | --- | ---
Derivative [Line Items] |  |  |  |
Contingent consideration, fair value |  | $ 567 | $ 642 |
Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |
Derivative [Line Items] |  |  |  |
Contingent consideration, fair value |  | 0 | 0 |
Significant Other Observable Inputs (Level 2) |  |  |  |
Derivative [Line Items] |  |  |  |
Contingent consideration, fair value |  | 0 | 0 |
Significant Unobservable Inputs (Level 3) |  |  |  |
Derivative [Line Items] |  |  |  |
Contingent consideration, fair value |  | 567 | 642 |
Clif Bar |  |  |  |
Derivative [Line Items] |  |  |  |
Contingent consideration, fair value | [1] | 472 | 452 |
Contingent consideration, liability, noncurrent |  |  |  | $ 440
Clif Bar | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |
Derivative [Line Items] |  |  |  |
Contingent consideration, fair value | [1] | 0 | 0 |
Clif Bar | Significant Other Observable Inputs (Level 2) |  |  |  |
Derivative [Line Items] |  |  |  |
Contingent consideration, fair value | [1] | 0 | 0 |
Clif Bar | Significant Unobservable Inputs (Level 3) |  |  |  |
Derivative [Line Items] |  |  |  |
Contingent consideration, fair value | [1] | 472 | 452 |
Other |  |  |  |
Derivative [Line Items] |  |  |  |
Contingent consideration, fair value | [2] | 95 | 190 |
Contingent consideration, current liability |  | 12 | 102 |
Contingent consideration, liability, noncurrent |  | 83 | 88 |
Other | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |  |
Derivative [Line Items] |  |  |  |
Contingent consideration, fair value | [2] | 0 | 0 |
Other | Significant Other Observable Inputs (Level 2) |  |  |  |
Derivative [Line Items] |  |  |  |
Contingent consideration, fair value | [2] | 0 | 0 |
Other | Significant Unobservable Inputs (Level 3) |  |  |  |
Derivative [Line Items] |  |  |  |
Contingent consideration, fair value | [2] | $ 95 | $ 190 |
[1] | In connection with the Clif Bar acquisition, we entered into a contingent consideration arrangement that may require us to pay additional consideration to the sellers for achieving certain net revenue, gross profit and EBITDA targets in 2025 and 2026 that exceed our base financial projections for the business implied in the upfront purchase price. The other contingent consideration liabilities are recorded at fair value within long term liabilities. The estimated fair value of the contingent consideration obligation at the acquisition date was determined using a Monte Carlo simulation and recorded in other liabilities. Significant assumptions used in assessing the fair value of the liability include financial projections for net revenue, gross profit, and EBITDA, as well as discount and volatility rates. Fair value adjustments are primarily recorded in selling, general and administrative expenses in the condensed consolidated statement of earnings. Refer to Note 2, Acquisitions and Divestitures for additional information.
[2] | The other contingent consideration liabilities are recorded at fair value, with $12 million and $102 million classified as other current liabilities and $83 million and $88 million classified as long term liabilities at June 30, 2023 and December 31, 2022. The fair value of this contingent consideration was determined using a Monte Carlo valuation model based on Level 3 inputs, including management's latest estimate of forecasted future results. Other key assumptions included discount rate and volatility. Fair value adjustments are recorded in selling, general and administrative expenses in the condensed consolidated statement of earnings. Refer to Note 2, Acquisitions and Divestitures for additional information.

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